NEW YORK — Nissin Foods, Hershey Co., Kellogg Co., Campbell Soup Co. and Grupo Bimbo SAB de CV were among the 20 “most trustworthy” food and beverage companies in 2023, according to a survey from Newsweek and global data research firm Statista.
Part of the first listing of the “World’s Most Trustworthy Companies,” the companies were ranked based on a holistic approach to evaluating trust. The three pillars considered were customer trust, investor trust and employee trust.
To compile the list Newsweek and Statista said they followed a three-step process that included identifying public companies with more than $500 million in revenues; calculating a score for each company based on a survey of more than 70,000 respondents on the main pillars of trust; and an examination of mentions of the companies in different media and social media platforms. Companies that were involved in significant scandals or lawsuits were excluded from the survey.
The No. 1 ranked food and beverage company was South Korea-based Ottogi, a manufacturer of curry, ketchup, soup, mayonnaise, ramen and vinegar. The No. 2 ranked company was Nagatanien, a Japanese-based company with a product line that includes soup, fried rice mix and noodles.
The highest ranked US-based food and beverage company was Hershey Co., at No. 11. Kellogg Co. came in No. 13, while Campbell Soup Co., Kraft Heinz Co. and General Mills, Inc. ranked No. 15, No. 27 and No. 29, respectively. Other US-based companies ranked in the survey included Keurig Dr Pepper (No. 23), Coca-Cola Co. (No. 43), Del Monte (No. 46), Hormel Foods (No. 48), PepsiCo, Inc. (No. 57), Utz Quality Foods (No. 58), Simply Good Foods (No. 61), B&G Foods (No. 63), Flowers Foods (No. 70), Mondelez International (No. 73), J.M. Smucker Co. (No. 75), Conagra Brands (No. 76) and Hostess Brands (No. 79).
Grupo Bimbo SAB de CV was the second highest ranked Mexican food and beverage company and ranked No. 16 overall, according to the survey.
“Trust is at the core of so many decisions that we make every day,” said Nancy Cooper, global editor in chief at Newsweek. “From shopping and investing to where we choose to work, it is an essential measurement for the important choices we make. According to a 2023 PWC survey, 58% of consumers have recommended a company they trust to friends and family. But executives overestimate how trusted their company is by 57%, compared to consumers.”
For the full list, click here.
